Palantir Technologies (NASDAQ:PLTR) Shares Up 4.1% – What’s Next?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) were up 4.1% on Friday . The stock traded as high as $84.92 and last traded at $84.54. Approximately 26,703,388 shares were traded during trading, a decline of 59% from the average daily volume of 65,847,680 shares. The stock had previously closed at $81.22.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PLTR. Mizuho boosted their price objective on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Wedbush raised their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Northland Securities raised their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.61.

Palantir Technologies Trading Up 3.3 %

The stock has a market capitalization of $191.05 billion, a PE ratio of 419.12, a price-to-earnings-growth ratio of 7.29 and a beta of 2.82. The firm has a 50 day moving average price of $73.34 and a 200 day moving average price of $50.31.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 EPS. On average, equities research analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total value of $999,200.00. Following the completion of the transaction, the insider now directly owns 562,006 shares of the company’s stock, valued at $28,077,819.76. This trade represents a 3.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of Palantir Technologies stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total value of $406,646.46. Following the completion of the transaction, the director now owns 130,250 shares of the company’s stock, valued at approximately $6,576,322.50. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,181,807 shares of company stock valued at $1,288,448,522. 12.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds have recently added to or reduced their stakes in PLTR. Charles Schwab Investment Management Inc. raised its holdings in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares during the period. Diversify Wealth Management LLC bought a new stake in shares of Palantir Technologies during the fourth quarter worth $876,000. State of Alaska Department of Revenue boosted its stake in shares of Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after purchasing an additional 87,062 shares during the last quarter. Finally, Tyler Stone Wealth Management increased its stake in Palantir Technologies by 97.9% in the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after buying an additional 99,921 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.